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Oriole, Inc., has collected the following information on its cost of electricity: Machine Hours Total Electricity Costs January 510 $240 February 540 $300 March 350

Oriole, Inc., has collected the following information on its cost of electricity:

Machine Hours Total Electricity Costs
January 510 $240
February 540 $300
March 350 $190
April 440 $200
May 670 $260
June 710 $350
July 300 $170
August 500 $260
September 220 $121
October 740 $320
November 840 $400
December 600 $300

Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.)

Variable cost is $.___ Per machine hour.

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